Governor Brian Kemp announced this week that Standard & Poor's (S&P's) Global Ratings reaffirmed its "AAA with a stable outlook" assessment for the state's credit worthiness. Because the state did not issue new general obligation bonds for the current fiscal year, the other two main credit rating agencies -- FitchRatings and Moody’s Investors Service -- did not issue formal reports for Georgia's bond ratings.
Governor Kemp says, "In the face of economic uncertainty on the national level due to bad policies coming out of Washington, D.C., I could not be more proud of our shared focus with the legislature on careful budgeting and maintaining a strong economic development pipeline that keeps Georgia a safe bet for any and all job creators."
A press release from Governor Kemp's office indicates S&P cited the strength of Georgia’s economy with a positive employment trend, strong budgetary performance and high reserves levels, a demonstrated willingness to make politically difficult decisions, a balanced approach to primary revenue sources, and consistent funding of obligations as factors contributing to their rating scores.
The news follows recent favorable news of AAA accredidations by the FitchRatings evaluations for Forsyth County's and Hall County's government credit ratings.
You can read S&P's full report of Georgia's rating, here.
